Electric Debut: Ferrari Luce Fetches $40 Million at Auction

The first fully electric Ferrari, the Luce, made more than just a market debut; it became the talk of the luxury automotive industry. At the RM Sotheby’s charity auction during Monterey Car Week, the first unit of this model went under the hammer for a record $40 million. The buyer was American billionaire and renowned Ferrari collector Herbert A. Wertheim. He will receive his unique unit only in early 2027 after final work is completed.

This event cemented the Ferrari Luce as the most expensive electric vehicle ever sold at auction. The unique car, designated “Chassis 0,” features a special Madreperla Semi-Gloss paint finish—a pearlescent coating that shifts from green to purple depending on the lighting.

A Difficult Path From Sketches to Success

The Luce’s road to recognition was not easy. Back in May, after its announcement, the project faced a wave of criticism. The design, created by former Apple design chief Jony Ive and his partner Marc Newson, proved too radical for brand loyalists. The four-door body, five-seat cabin, and the absence of a roaring mid-mounted V12 sparked protests among traditionalists.

Former Ferrari chairman Luca di Montezemolo even publicly urged the company’s management to remove the famous “Prancing Horse” logo from the electric model. Amid these discussions, the company’s shares on the Milan Stock Exchange dropped by more than 8 percent.

Why Demand Exceeded Expectations

Despite skepticism from purists, the commercial success of the Luce proved undeniable. Priced at approximately $640,000, the model became highly sought after by a new demographic. A 0-100 km/h sprint of 2.5 seconds served as a strong selling point. According to Financial Times data, Ferrari sold out its entire 2026 quota of about 500 cars within just two months of opening orders.

Ferrari’s strategy involves shifting its target audience: the company is focusing not on classic V12 collectors, but on young entrepreneurs in high-tech and artificial intelligence, primarily from Silicon Valley and China. The company plans to produce around 2,500 units of the Luce by 2030, ensuring an average annual production volume of 600 units.

Ferrari CEO Benedetto Vigna previously noted: “The transition to electric cars will not compromise the 30 percent operating margin for which the brand is famous.”

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